Which Type of VAT is Appropriate for a Non-chargeable Goods?
If you are a VAT payer and you want to invoice an item that is non-chargeable (e.g. deposit, security deposit, etc.) you need to add the VAT5 type with a 0% rate to your settings.
How to do this?
- Select SETTINGS from the menu bar
- Select TYPES OF VAT in the sidebar
- Add the VAT5 type with 0% RATE
- Confirm the settings by clicking SAVE CHANGES
- When writing an invoice, select the VAT5 type with 0% RATE and no VAT will be added to the price of the item
Updated on: 30/05/2024
Thank you!